The Sage Group (LON:SGE) Shares Up 14.3% – Time to Buy?

The Sage Group plc (LON:SGE) shares were up 14.3% during mid-day trading on Wednesday . The stock traded as high as GBX 1,320 ($16.75) and last traded at GBX 1,231.45 ($15.63). Approximately 141,714,766 shares were traded during mid-day trading, an increase of 2,699% from the average daily volume of 5,063,677 shares. The stock had previously closed at GBX 1,077 ($13.67).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their target price on shares of The Sage Group from GBX 1,300 ($16.50) to GBX 1,250 ($15.86) and set an “overweight” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,173 ($14.89).

The Sage Group Stock Performance

The firm’s 50-day moving average price is GBX 1,018.27 and its two-hundred day moving average price is GBX 1,049.92. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 115.72. The firm has a market capitalization of £12.67 billion, a PE ratio of 4,169.23, a P/E/G ratio of 1.22 and a beta of 0.53.

The Sage Group Company Profile

The Sage Group plc, together with its subsidiaries, provides technology solutions and services for small and medium businesses in the United States, the United Kingdom, France, and internationally. It offers cloud native solutions, such as Sage Intacct, a cloud accounting software product and financial management software; Sage People, a HR and people management solution; Sage 200, a finance and business management solution; Sage X3, a business management solution; Sage Accounting, a solution for small businesses, accountants, and bookkeepers to manage customer data, accounts, and people; Sage Payroll for small businesses manage their payroll; and Sage HR for small and mid-sized businesses for record management, leave management, staff scheduling, and expenses services.